Oil prices continue to rise for 11th consecutive day, After Rajastan’s Ganganagar, Petrol breached the Rs.100 mark in MP’s Anuppur

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Bhubaneswar: Despite stiff resentment among the general consumers, Petrol and Diesel prices have continued their rally for the 11th consecutive day. While petrol price has been increased by 31 paise, Diesel price has been increased by 33 paise.

With today’s hike, petrol price has peaked to Rs.90.19 and Diesel price rose to 80.34 per litre in Delhi. In Mumbai, the prices have increased to Rs.96.62 and Rs.87.67 respectively. In Bhubaneswar Petrol is selling at Rs.90.91 and Diesel at Rs.87.84 per litre.

In Rajastan’s Ganganagar, Petrol price has peaked to Rs.100.82 a litre. Petrol price has also crossed the Rs.100 mark in Madhya Pradesh’s Anuppur.

Crude Oil prices retreat

On Friday, WTI Crude was eased by 2.02 % to USD 59.30 per barrel and the Brent Crude eased by 1.77% to USD 62.80 per barrel. Meanwhile, the Indian basket crude oil price also dropped by 0.38% to 62.64 per barrel on Thursday.

The Indian basket of Crude Oil (IB) represents a derived basket comprising of Sour grade (Oman & Dubai average) and Sweet grade (Brent Dated) of Crude oil processed in Indian refineries in the ratio of 75.50 : 24.50 during 2018-19. It is used as an indicator of the price of crude oil imports in India. India’s government owned oil companies watch this index while reviewing the domestic Petrol and Diesel prices.

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